Based on recent revenue projections and expenditures, Calvert County could be faced with a budget shortfall of almost $10 million in fiscal 2016. As reported by the Calvert Reporter,
During the [Board of County Commissioner’s] BOCC’s regular meeting, the board heard a presentation from the Department of Finance and Budget about the forecast and budget strategy for fiscal 2016. The budget climate is challenging, as the department is not recommending salary increases for county employees, including for cost of living, and the county departments are being asked to hold their operating budgets for the upcoming fiscal year flat, said Joan Thorp, deputy director of finance and budget.
As the early estimates stand, the projected general fund revenues for FY16 total $239,200,000, with projected general fund expenses totaling $248,900,000 — a deficit of $9.7 million.
Factors contributing to the county’s shortfall include a decline in property tax revenues and an increase in the amount of funds required to be put into a trust fund for other post-employment benefits (OPEB).
The projected deficit in years beyond FY16 increases as well, according to the presentation Tuesday. The projected deficit for FY17 is $11,724,883, but a surplus of $1,851,541 is expected in FY18.